Monetary Base Hits All-Time High For 6th Month In Aug

TOKYO (NQN)--Japan's monetary base expanded 42% on the year to 172.44 trillion yen in August, marking an all-time high for the sixth straight month, the Bank of Japan said Tuesday.

The gain was the biggest since the 43% logged in November 1973. The monetary base increased because a massive amount of funds were injected into the market by the central bank, which bought a large number of bonds under its monetary easing measures.

The balance of current accounts deposited at the BOJ jumped about 130% to 84.32 trillion yen, also hitting an all-time high for the sixth consecutive month.

The amount of bank notes issued rose 3.3% to 83.55 trillion yen. The amount of coins in circulation climbed 1% to 4.56 trillion yen.

The monetary base is the total amount of bank notes and coins in circulation and current accounts deposited at the BOJ.

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